Diluted HEPS increased from -0.5cps to 7cps.
Revenue improved by 20.7% y-y to R1 382m, supported by double-digit growth across each segment and 19.1% y-y growth in the subscriber base.
Net subscriber additions of 87 900 in the period, with the total subscriber base rising to 1 089 761.
GPM rose by 20bps to 61.9%.
OPM increased from 6.2% to 10.3%.
Expenses increased by 13.6% y-y to R723m, while expense to sales fell by 330bps to 52.3%.
Dividend of 9cps (LY: 8cps).
Net cash improved by 71.4% y-y to R237m with cash from operating activities increasing from R48m to R270m.
The addition of the FSM business in FY23 contributed R74.3m to the Americas subscription revenue. No subscriber base growth provided for the Americas in 1H24.
Operating expenses in the 1H24 included R14.8m in strategic costs related to the proposed Powerfleet transaction.
